New and improved products stimulate the life and growth of our country. These benefits result from research and development to which engineers make their unique contribution. This competition recognizes the results of those efforts and the foresight of the companies whose aggressive policies bring new products to the marketplace.
The purpose of the PEI New Product Award program is to recognize the full spectrum of benefits that come from the research and engineering of new products. These include added employment, economic development, strengthening of the nation's competitive position internationally, and contribution to the public's standard of living.